‘Yahoo to Change Name, Lose Marissa Mayer as Board Member’ – Entrepreneur
Tom Brant says, “Yahoo CEO Marissa Mayer will step down from the board of directors and the internet giant will change its name to Altaba, Inc. after part of the company is sold to Verizon, according to a Monday filing with the Securities and Exchange Commission.
Verizon announced plans to acquire Yahoo in July for approximately $4.83 billion. The deal doesn’t include Yahoo’s share in the Chinese online retail giant Alibaba or Yahoo Japan, which would continue to exist seperatley as part of Altaba. The Wall Street Journal reported that the new name is a combination of the words “alternate” and “Alibaba,” citing a person familiar with the matter.
Mayer, a former Google exec who joined Yahoo as CEO in 2012, previously said she would continue working for the company after the acquisition.
“For me personally, I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter,” she wrote in an email to employees after the sale was announced”.
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